Lomé-based Ollo Africa raises capital to 1 bln CFA francs

Finance

Wednesday, 04 February 2026 10:43

Lomé-based Ollo Africa raises capital to 1 bln CFA francs

(Togo First) - Lomé-based fintech startup Ollo Africa S.A. has announced a share capital increase, raising its equity from 68 million CFA francs to 1 billion CFA francs. Approved at an extraordinary general meeting in December 2024, the operation marks the arrival of Togolese and US angel investors alongside the founding shareholders.

Licensed by the Central Bank of West African States, Ollo Africa focuses on digitising tontines and other traditional collective savings schemes through its platform, Ohana Africa.

“This capital increase is a turning point for Ollo Africa. It validates our approach: bringing tontines into the digital space while keeping their community-based nature. Our early users show us every day that we are meeting a real need. The confidence of our investors, particularly the arrival of an American partner, gives us the resources to scale and reach hundreds of thousands of African families over the next 24 months,” said Mawuna Koutonin, managing director of Ollo Africa.

The funds will be used to finance a customer acquisition drive in Togo, further develop the platform’s technology, expand teams, and support financial education initiatives. The company aims for rapid growth and gradual expansion across the WAEMU region.

Around 5,000 family accounts are already active on the platform in Togo, according to the Atakpamé-based company. This comes as more than 40% of adults in West Africa regularly participate in tontines or informal savings groups, according to World Bank data cited by the firm. These mechanisms are estimated to generate annual flows of several hundred billion CFA francs across the WAEMU region.

The fintech still has significant room for growth in a market where banking penetration remains low. It also benefits from a strategic partnership with Ecobank, designed to secure financial flows and support integration with the formal banking system. The company highlights its proprietary technology, tailored to local languages and cultural practices.

Ayi Renaud Dossavi

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